6-13-09
Crude oil and the US. dollar still moving the grains and
soybean markets. The dollar may have hit hit a short term
bottom.
We have thrown out weather. Some time rain will make grain.
Yes, acres are still being planted and replanted. But crop
conditions are pretty good. WCB is in great shape and the
ECB this week will finish what needs to be planted by next
weekend. Warmer drier temps.
Now looking at the June 30th acreage #s good luck. We
should see 800-1 mil less corn acres and maybe as high as
2.5 increase of beans. BUT those 6-7 mil. acres that are
sitting is the USDA's ace in the hole. Firms will be giving
out there est. but it wont matter because of the possible
surprise the USDA could throw at us with those acres.
So we are seeing a range in dec. corn with support at
435-419 and res at 489 and possible 514-525. At harvest low
>should be around 367.
Good Luck and Good Trades
Please call anytime and we will discuss our views
more thoroughly, 800-942-1513.
FUTURES AND COMMODITIES TRADING CAN INVOLVES SIGNIFICANT RISK AND IS NOT SUITABLE FOR EVERY INVESTOR.
INFORMATION CONTAINED HEREIN IS STRICTLY THE
OPINION OF ITS AUTHOR AND IS INTENDED FOR INFORMATIONAL PURPOSES.
INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT IS IN NO WAY GUARANTEED OPINIONS.
MARKET DATA AND RECOMMENDATIONS ARE SUBJECT TO CHANGE AT ANYTIME. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS.
